Form 15H is a self-declaration form submitted by senior citizens (aged 60 and above) to banks, financial institutions, or employers to prevent TDS (Tax Deducted at Source) deductions on interest income or other eligible earnings. It is applicable when the individual’s total taxable income is below the exemption limit and they are not liable to pay income tax for that financial year. This form is commonly used for fixed deposits (FDs), recurring deposits (RDs), EPF withdrawals, and rental income, ensuring that senior citizens receive full interest earnings without TDS deductions.

For businesses managing on-roll employees, pensioners, and retirees, enabling Form 15H submissions ensures accurate payroll tax compliance, prevents unnecessary deductions, and enhances financial planning for senior employees. Companies leverage HRMS platforms and payroll automation tools to track, validate, and manage Form 15H declarations, ensuring regulatory adherence and smooth financial operations.